Bert0611
Level 3

New Client  owns a 4 unit apartment building.  The building is titled to the TP.  Prior accountant listed the activity on the Schedule E to an LLC.  The TP has been paying his rent to the LLC and from what I can tell has been taking all expenses.

I can't find anything that supports this way of handling a rental. 

Thoughts, concerns direction would be appreciated.

 

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